Corporate Updates – 22-03-2016


The Securities and Exchange Board of India has cautioned the investors that some unlisted companies are luring retail investors by issuing securities including non-convertible and convertible debentures/ non-convertible and convertible preference shares/ equity shares in the garb of private placement, without complying with the provisions of Companies Act, 1956 read with the Companies Act, 2013, SEBI (Issue and Listing of Debt Securities), Regulations, 2008, SEBI (Issue and Listing of Non Convertible Redeemable Preference Shares), Regulations, 2013 and SEBI (Issue of capital and Disclosure Requirements) Regulations, 2009. SEBI has taken action against 233 (as on March 15, 2016) such entities for issuance of such securities without complying with the prescribed provisions of law. List of Companies against whom orders have been passed by SEBI is provided in the said press release.


RBI has instructed banks to keep their branches open, which conduct government business. Banks will remain open for full day on March 30 and till 8 pm on March 31 to facilitate the transactions before annual closing of government accounts as the government expects all government transactions with banks must be accounted for within the same financial year. Further, all electronic transactions would, however, continue till midnight on March 31, 2016.

News from NIRC of ICSI

1. NIRC of ICSI is organizing Workshop on "The Companies (Amendment) Bill, 2016" by CS Vinod Kothari on Saturday, 26th March, 2016 at 9:30 AM onward at ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi. FEE : Rs. 300/- : Program Credit Hours – 4.

2. The Corporate Membership Scheme of NIRC of ICSI is open for the Financial Year 2016-17 and the last date for receipt of Corporate Membership fee with early bird incentive is 31.3.2016. The scheme is available for two options – Option-I : Corporate Membership Scheme –(Delhi); Option-II : Corporate Membership Scheme – (Delhi & Chapters). Anyone becoming a member under the Scheme shall be entitled to attend all the paid programs (Except workshops and residential programs) organized by NIRC (& Chapters) free of charge throughout the year. The payment for Corporate Membership can be made through following options:

Option 1 – Cash deposit at NIRC Building, 4 Prasad Nagar Institutional Area, New Delhi.

Option 2- NEFT transfer to NIRC- ICSI Saving Bank Account No. SB- 90062010039267 Syndicate Bank, East Patel Nagar, New Delhi – 110008, RTGS/ NEFT IFSC – SYNB0009006.

Option 3 – Online payment through payment gateway.

Option 4 – Cheque/DD towards the Corporate Membership Fee for the requisite amount be drawn in favour of “NIRC of the ICSI” and sent to Regional Director, NIRC of ICSI, 4, Prasad Nagar Institutional Area , New Delhi-110005.

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